2 Belford Avenue, Devon Park SA 5008
2 Belford Avenue, Devon Park SA 5008
Modern 3-bed townhouse | 305 sqm land | Infill redevelopment pocket | 4km from CBD | Rental yield near 3.2%
This property occupies a rare middle ground in Devon Park: it is not the older, large-block detached housing that defines much of the suburb, nor is it a compact apartment. It offers a contemporary three-bedroom, two-bathroom layout with a study and air conditioning, all on a manageable 305 square metres of land. That configuration suits buyers who want modern, low-maintenance living without sacrificing a private outdoor space or a sense of ground-level dwelling. The 188 square metres of internal area is generous for this product type, and the location—within four kilometres of the city, close to Prospect Road and North Adelaide—reinforces its appeal to owner-occupiers, particularly young professionals, downsizers, or small families seeking convenience and a newer build. The street itself is undergoing visible renewal, with townhome projects and redevelopment activity nearby, which supports the property’s positioning as part of a modernising corridor rather than a static older pocket.
The value picture may be shaped by how this property compares against both older and newer stock in the immediate area. Its land size is smaller than legacy blocks, which may limit expansion potential, but that is offset by the contemporary build and efficient use of space. The rental estimate of $650 per week suggests solid income potential, though the yield is moderate rather than exceptional. Buyers might weigh the ongoing infill activity in the street—construction and new development could affect short-term amenity—but also recognise that this same activity tends to support price growth over time. The property’s recent history as a land purchase followed by construction points to a relatively young build, which may reduce immediate maintenance concerns. Orientation and finish quality are not confirmed, so a physical inspection would be worthwhile to verify how light, layout, and materials actually perform in person.
Detailed Independent Property Report prepared by PropCred Analyst team for 2 Belford Avenue, Devon Park SA 5008
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
Income Risk
1
Execution Risk
1
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Market Insight
Devon Park is a compact 0.4 sq km inner suburb with just 653 properties and limited turnover; tight supply underpins a market driven by professionals aged 30–39 in childless couples, many earning $78k–$130k. Population surged 33.4% from 2016 to 2021 and median household income rose 35.7%. Houses are selling with strong momentum: median sold price is roughly $975k–$985k, with annual growth between 16.8% and 21.7%, and 27–38 sales in the past year. Three-bedroom houses sit near $897.5k and units around $580k–$713k. Listings average 40–58 days on market. Rents are firm; house medians range from $550–$645 weekly, and vacancy is very low at 0.62%. Rental demand is structurally high, with 42.6% of households renting and ownership rising to 51% by 2021. The main constraint is extreme supply scarcity: current house listings are effectively flat at zero to two, and only one property is for sale. Further upside hinges on continued income and population growth, but limited stock and affordability pressure could temper activity.
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PropCred Estimated Value
Comparable Sales: 58 Belford Avenue sold for $1.715M on larger 1,168 sqm land; house-and-land packages nearby priced from $950K–$998K | Property Price Band: $1.0M–$1.1M | Value Drivers: modern condition, 305 sqm land size, proximity to CBD and redevelopment corridor
Bedrooms
3
Bathroom
2
Parking
1
Land
305m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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